BRUSSELS (AP) — A closely watched survey of business activity across the 19-country eurozone shows economic growth holding steady at a six-year high in May while job creation has picked up to one of the highest levels in nearly a decade.
Financial information company IHS Markit says Tuesday that its purchasing managers' index — a broad gauge of economic activity — for the eurozone was unchanged at 56.8 in May.
The survey is consistent with quarterly economic growth of 0.6-0.7 percent, higher than the first quarter's 0.5 percent growth.
Chris Williamson, IHS Markit's chief economist, says the consensus forecast for second-quarter growth of 0.4 percent may prove "overly pessimistic."
He also noted that job creation has surged to the second-highest in nearly a decade as firms expand capacity and meet rising demand.
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